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4 Mistakes Entrepreneurs Are Always Making
Rebecca Appleton • 13 December 2019
We’re in a world and a time where everyone with an idea thinks they are an entrepreneur
We’re in a world and a time where everyone with an idea thinks they are an entrepreneur buts what’s more, every entrepreneur thinks they have what it takes and that they are somehow reinventing the world around them. When sometimes they’re actually reinventing the wheel. Don’t be one of those. As you get started on your journey with us with our award-winning Business-In-A-Box solution for starting your own mobile app agency business, remember the importance of being agile, able to change direction and continually invested in learning and innovation.
Take a look at some of these common entrepreneurial mistakes to avoid…
Solving Fictional Problems
Some people are great problem solvers, the problem with them is they spend time solving problems that really don’t even exist. It’s a thought process thing. You see, most innovators seem to start with an idea they’ve had. When really the trick to creating something people really need, is to start with a problem. What problem is your intended audience facing and how can you or your product solve that for them? That’s where real worthwhile ideas come from, not just from a random spark.
Greedy for Growth
There isn’t an entrepreneur alive who doesn’t thrive on the idea of growing their business or their idea. In fact, it’s what makes many business owners tick. The issue though is that while tempting, rapid expansion and growth causes its own issues. Particularly if that expansion is into new areas to support opportunities you’ve discovered along the way. Expanding too fast can leave you open to increased overhead costs and a loss of focus on your initial promises and customers base.
We would never suggest you miss a chance to grow, but make sure it’s intelligent rather than hasty.
Leaving Marketing Until Last
Early on many businesses acquire customers through vigorous networking as well as the investment process and the various directors little black books. What then tends to happen is that the brand’s actual outbound marketing ends up being left on the back burner while the business focusses on internal expansion.
It’s vastly important to start creating a feeding a pipeline of potential new customers as early on as possible to ensure the business genuinely grows with new clientele rather than just in size and ambition. Prioritise that marketing strategy meeting!
Being a Cheapskate
No new business or start up likes to spend money, but it is important to understand that you are going to have to. Marketing, data, research, great people in the business, they all have a cost. Being too cheap in these areas will come back to bite you and it’s a mistake seen over and over again. You really do get what you pay for so be prepared to pay for the good stuff.
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